Ghana made $1.2 billion from non-traditional exports (NTEs) for the first six months of 2014, which was the highest half-year earnings.
Export of non-traditional products in January to June 2014 increased by 2.10 per cent from US$ 1.18 billion in the first half of 2013 to US$ 1.23 billion in the first half of 2014.
The total earnings for the period under review were made up of earnings from the processed and semi-processed agriculture and handicrafts sub-sectors.
This was disclosed by the General Manager for the Ghana Export Promotion Authority (GEPA), Mr Stephen K. Normeshie, in an interview with the GRAPHIC BUSINESS on March 25.
The processed and semi-processed products for the period accounted for US$ 994.75 million representing 81.96 per cent of the total NTEs, whiles agricultural produce contributed US$ 216 million representing 17.8 per cent, and handicrafts contributed US$ 2.87 million representing 0.24 per cent.
The processed and semi-processed sub-sector, however, recorded a negative growth of 1.14 per cent as it contributed over one billion in the first half of 2013, and Mr Normeshie said this was due to the fall in iron and steel products export.
He said handicrafts export also grew by 147.41 per cent from US$ 1.16 million in the first half of 2013 and this was through the increase in exports of ceramic products to Burkina Faso.
The agriculture sub-sector also rode on the back of the huge exports of cashew nuts to record a 19.16 per cent growth from US$ 181 million in half year 2013.
Leading NTE products
About 442 different products were exported in the period under review with the highest earner, cocoa paste, and lowest earner, fertiliser, in the top 10 leading products earning US$260 million and US$24.49 million respectively.
The total value for the top 10 earning products amounted to US$725 million representing over 59.76 per cent of the total NTEs for the period.
The top 10 products in a descending order include; cocoa paste, cashew nuts, medicinal plants and parts, natural rubber sheets, veneers, aluminum plates, cocoa powder and fertiliser.
Market performance
Importing countries of Ghana’s NTE products have been grouped into five regional markets and they include; the European market, other developed countries, ECOWAS, other African countries, and other countries.
The performance of the NTE sector by markets indicates that the markets of Europe and ECOWAS absorbed 35.7 per cent and 31.64 per cent respectively.
Other African countries, other developed countries and other countries absorbed 2.94 per cent, 7.27 per cent, and 22.42 per cent respectively.